All too often, we can focus on investing in developing a business in a way that forgets the very human cogs in the machine. This is a mistake because investing in your employees is highly beneficial to them and to you. If you’re ready to get started on the journey to a positive reciprocal working relationship, here are five powerful benefits of investing in your employees:
From getting the best workers comp insurance online to offering flexible hours, there are plenty of ways to ensure employees are treated well when injured at work. Workers comp is particularly valuable. It is no-fault insurance that gives your employees financial and medical support if they are harmed at work or as a direct consequence of their job. With the help of this kind of policy, they can get well again and return to work fit and able.
Your business also benefits because workers know they are supported if they do suffer an illness or injury at work. This encourages them to be loyal while ensuring you get your valuable employee back in top form as soon as possible.
By investing in your team’s skills development, health, well-being, and overall contentment at work, you will benefit from employees who are more productive. Employees who get training and development courses, support, and guidance are known to be more skilled, engaged, and productive overall, leading to a higher rate of performance for your business long term.
Thanks to technological advances, many highly talented workers have the entire world available to them as they job hunt. Employers have to be competitive to get the most qualified workers to consider a position within their business.
Studies show that nearly 70% of employees would stay with their employer if they offered skills development opportunities. Around 65% would stick around if the employer helped them refresh their existing skills.
By investing in your team and their development, you attract the best candidates and keep them with you for the long haul. As you reduce staff turnover, you’ll save yourself the expense of constantly training replacements. You’ll also foster strong workplace relationships, boosting the motivation for talented team members to stick around.
Bad communication in businesses is incredibly damaging. It can cause your team to miss deadlines and forget crucial calls or emails to clients. Projects may be delayed, and employees may become dissatisfied, leading to decreased morale and productivity.
To avoid these issues, invest in communication training, resources, better chat systems, regular meetings, and top-to-bottom communication strategies. Doing so will benefit your employees and your business moving forward.
These days, customers want more than a great product. They want to buy from a company with strong values and ethics. Crucially, they want those values to align with their own. Around 82% of customers want to buy from brands whose values match theirs, and for many, those values include wanting to buy from a company that cares about employees.
Share the investments you’re making in great benefits, skills development, insurance, training, and support. These good news stories will boost your brand and let customers know you run a company that values every cog in the machine.
Now is the ideal time to examine how your business can improve employee support, care, and development. Doing so will benefit your employees and your business, strengthening your brand and cultivating a diverse and engaged working environment where the best candidates want to work long-term.